The Traderszone Network

Published in TZ Latest News 14 April, 2015 by The TZ Newswire Staff

Four Fed banks call for discount rate hike: minutes

Four regional Federal Reserve banks pushed to convince the central bank to raise the rate it charges commercial banks for emergency loans, meeting minutes released on Tuesday showed. Ahead of the Fed’s March 17-18 policy-setting meeting, directors of the Cleveland, Philadelphia, Kansas City and Dallas Fed banks asked the Fed’s board to bump up the discount rate to 1 percent from 0.75 percent, according to the minutes of Fed board meetings. The board, however, sided with the seven other regional Fed banks in opting to hold the rate steady.

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